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LVMH Has Just Bought Belmond Hotel Group

December 17, 2018

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LVMH / Ph: The Fashion Law

The acquisition of Belmond Ltd by the French giant – LVMH

The acquisition of Belmond Ltd., owner of New York’s ‘21’ Club and high-end resorts around the world was valued at $2.6 billion. This is LVMH’s second largest deal. The biggest was the transaction of taking full control of Christian Dior for more than $7 billion last year. This pushes the company further into services amid rising concern about the sustainability of the Chinese demand that’s driven fashion industry growth.

 

When the deal is complete, LVMH will take control of 46 hotels, restaurants and luxury trains and cruises across 24 countries which include the Hotel Cipriani in Venice, the 21 Club in New York, a storied Manhattan restaurant,…

All these things will increase LVMHs presence in the times when service becomes so essential. For example, the famous hotel like the Cipriani – the 96-room Venice hotel with Michelin-star restaurants that Belmond acquired 40 years ago will help to improve LVMH’s revenue.

Related image

The Cipriani / Ph: youtube

LVMH seems to believe in the promising future which Belmond Ltd will bring to. It thinks that anyone who is willing to buy a $1,000 Louis Vuitton bag will splash out for a $2,000-a-night hotel on Italy’s Amalfi Coast. However its shareholders do not think like that. When LVMH made the announcement about the acquisition, the luxury groups shares fell 1.3% in Paris on Friday morning. On the contrary, Belmonds shares climbed up 39% in premarket trading.

The deal is expected to be completed in the first half of 2019, subject to approval from shareholders and regulators. And it may take a few years later to see if whether this is a smart choice of LVMH or not.

 

Let’s visit Vuhes Magazine often to catch up with the latest news in the beauty world.

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